For the fourth time in eight years, the all-time record for total shutouts in a season was shattered, as 192 shutouts were recorded.[1] The 2003–04 regular season was also the first one (excluding the lockout-shortened 1994–95 season) since 1967–68 in which there was neither a 50-goal scorer, nor a 100-point scorer.[1][2] This was the final season that ABC and ESPN televised NHL games. It was also the final NHL season before the 2004–05 NHL lockout, and the final season in which games could end in ties.

The schedule of 82 games was revamped. The 30 teams played 82 games in a revamped format that increased divisional games from five to six per team (24 total), conference games from three to four (40 total), and decreased inter-conference games to at least one per team, with three extra games (18 in total).

The alternating of jerseys was changed. For the first season since the 1969–70 season, teams would now wear their colored jerseys at home and white jerseys away.

The most surprising teams were the Tampa Bay Lightning in the East and the San Jose Sharks in the West. The Lightning, who had a remarkable season with only 20 man-games lost to injury, finished atop the Eastern Conference, while the Sharks, who were firmly in rebuilding mode after a disastrous 28–37–9–8 campaign the last season, came second in the West and won the Pacific Division.

Goaltending was also the story of the Presidents' Trophy-winning Detroit Red Wings as the return from retirement of legend Dominik Hasek bumped Curtis Joseph to the minor leagues. At the same time, long-time back up Manny Legace recorded better numbers than both veterans and won the starting job in the playoffs.

Of note is the fact that the Nashville Predators made the playoffs for the first time in franchise history, though they were dispatched by a star-studded Detroit Red Wings team in the first round.

The regular season ended controversially, when in March 2004, the Vancouver Canucks' Todd Bertuzziinfamously attacked and severely injured the Colorado Avalanche's Steve Moore, forcing the latter to eventually retire.

The 2004 playoffs were considered to be wide open, with no clear favorite. All of the top teams had weaknesses. Tampa Bay and Boston were both young teams with no history of recent postseason success. Detroit, Ottawa, Colorado, and Philadelphia all had major questions in goal. New Jersey was marred by injuries to Scott Stevens and Brian Rafalski, while Vancouver was missing the suspended Todd Bertuzzi.

The first-round Eastern Conference matchups were notable for the number of heated rivalries. The Ottawa Senators met the Toronto Maple Leafs for the fourth time in five years in the always passion-filled Battle of Ontario. The Boston Bruins and Montreal Canadiens met in a resumption of the most common of all NHL playoff series, and one which the Canadiens have thoroughly dominated, including an upset win two years prior. The Philadelphia Flyers also played a hated division rival in the New Jersey Devils. The only non-rivalry was the Tampa Bay-New York Islanders series.

The West saw the resumption of the Vancouver-Calgary rivalry, which had been somewhat dormant as the Flames made the playoffs for the first time since 1996. In a less passionate but still interesting matchup, Detroit played division rival Nashville (whom they had struggled against during the regular season) in Nashville's first ever franchise visit to the playoffs. San Jose met the St. Louis Blues, while the always difficult four-five matchup saw Colorado and Dallas meet.

The Lightning beat the Flames in the Stanley Cup Finals, four games to three. With the Flames having a 3–2 series lead and the series going back to Calgary for Game 6, with the Stanley Cup in the building and with the game tied 2–2 in the third, Martin Gelinas of the Flames (who scored the series-winning goals in the Flames' three previous series) appeared to have scored the go-ahead goal. Gelinas redirected a pass towards the Tampa net using his skate that was kicked out by Lightning goaltender Nikolai Khabibulin. It appeared that before Khabibulin kicked the puck out, it had already crossed the goal line.[5] The play was not reviewed. To this day, many Flames fans argue that the puck was in.[citation needed] The game eventually went into double overtime, where Lightning winger and former Flame Martin St. Louis scored the overtime winner. The Lightning went on to win Game 7 by a score of 2–1 and captured their first championship in franchise history. Brad Richards, with 12 goals and 26 points in the playoffs, won the Conn Smythe Trophy as playoff MVP.